Inventory cost question for new company

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We are working with a new company owner that acquired a company which used BusinessWorks for many years.  

The agreement was the new owner would buy the inventory at cost.  However, in their sales agreement, the old owners agreed to lower the costs for the new buyer on primarily old parts, as the items may or may not be sold in the future.

For instance an item that originally cost $100.00 may be revalued at $50 since the item may or may not be sold.

The buyer's accountant set up an Excel spreadsheet with the agreed upon costs. When we imported the spreadsheet, the new costs were not exported to the correct place for inventory costs.

After some reports were reviewed, we noticed the updated costs were not imported correctly.  And now apparently we can't change the inventory costs after the initial import. 

Is there some way to reset cost for inventory items?

Any suggestions will be appreciated. 

  • 0

    Phyllis,  I think you're wanting to change the Unit cost field (that's grayed out) on the Maintain Parts screen.  The only way to get that field open is to adjust the quantity on hand to zero by going to Transactions - Adjustments.  Once you've got the cost where you want them, you'll need to go back to Transactions - Adjustments to reenter the quantities.  You'll want to do that in Setup mode.  If don't know how to get into setup mode, let me know.

  • 0 in reply to bem

    What makes the unit cost gray out?  Would a rebuild do that?

    I think the company is still in Set Up mode.  It's been a while since I changed that so I may need to know that also.

    Thanks for the info.  Unfortunately, the company has about 5,200 parts and I haven't had time to see which parts are closed or grayed out.

  • 0 in reply to Phyllis B

    The Unit cost field is a weird average cost that I can't really explain.  I am assuming that you imported parts and included a quantity and unit cost in the import.  I always do a backup before I import just in case this happens.  You can determine if the Inventory Module is in setup mode by clicking on File and System Status Report.  Click on the Module Information button.  This will show which modules are in setup mode.  GL will be in setup mode if you have never closed a month so it really doesn't count.

  • 0 in reply to Phyllis B
    SUGGESTED

    Phyllis B

    Once you have a transactions posted to the pay the Unit Cost field will be grey.  The unit cost is maintain by which costing method you are using for your company (FIFO, LIFO, STANDARD, or AVERAGE).  Since you can have multiple costs associated to the part, the system only displays the "average" unit cost on the Maintain Part screen.  In addition, unit cost or on hand quantity can only be imported in if 1) IC is in setup mode 2) the current On Hand Quantity is zero, and 3) there have been no transaction for the part.

    Thanks,

    Coleen